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Equity Bottom-Up

Biotech Growth Trust PLC/The / Equity Bottom-Up

<p>The Biotech Growth Trust (BIOG) was launched in 1997, aiming to generate long-term capital growth from a global portfolio of biotech stocks. Since 2005, the trust has been managed by OrbiMed Capital, the largest global specialist healthcare investor; over this period, BIOG has significantly outperformed its benchmark NASDAQ Biotech Index (sterling adjusted), despite less compelling short-term performance. The trust&rsquo;s managers are bullish on the outlook for the biotech industry due to continued innovation, and suggest that investor concerns about drug price controls are overdone and have led to attractive biotech company valuations, especially for the larger-cap stocks. They believe that greater clarity surrounding US tax policy, including the potential repatriation of overseas cash, could lead to more industry mergers and acquisitions (M&amp;A), which should be an important driver for the sector and could lead to a positive revaluation of the industry.</p>

The Biotech Growth Trust (BIOG) was launched in 1997, aiming to generate long-term capital growth from a global portfolio of biotech stocks. Since 2005, the trust has been managed by OrbiMed Capital, the largest global specialist healthcare investor; over this period, BIOG has significantly outperformed its benchmark NASDAQ Biotech Index (sterling adjusted), despite less compelling short-term performance. The trust&rsquo;s managers are bullish on the outlook for the biotech industry due to continued innovation, and suggest that investor concerns about drug price controls are overdone and have led to attractive biotech company valuations, especially for the larger-cap stocks. They believe that greater clarity surrounding US tax policy, including the potential repatriation of overseas cash, could lead to more industry mergers and acquisitions (M&amp;A), which should be an important driver for the sector and could lead to a positive revaluation of the industry.

<p>The Biotech Growth Trust (BIOG) is a specialist vehicle, aiming to generate long-term capital growth via investment in global biotech stocks. Following a particularly volatile period for the biotech industry, where concerns about drug pricing and investor risk aversion have weighed heavily on stock prices, the managers are hopeful that greater clarity regarding US healthcare policy will lead to continued improved performance of biotech stocks. Industry fundamentals remain attractive, including continued innovation and valuations are very supportive, which offers the potential for higher industry merger and acquisition activity.</p>

The Biotech Growth Trust (BIOG) is a specialist vehicle, aiming to generate long-term capital growth via investment in global biotech stocks. Following a particularly volatile period for the biotech industry, where concerns about drug pricing and investor risk aversion have weighed heavily on stock prices, the managers are hopeful that greater clarity regarding US healthcare policy will lead to continued improved performance of biotech stocks. Industry fundamentals remain attractive, including continued innovation and valuations are very supportive, which offers the potential for higher industry merger and acquisition activity.

United Kingdom

The Biotech Growth Trust PLC is a closed-end fund incorporated in the United Kingdom. The aim of the Fund is to achieve capital appreciation through investment in the worldwide biotechnology industry principally by investing in emerging biotechnology companies.

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Biotech Growth Trust PLC/The (BIOG LN)

Celebrating its 20th birthday

The Biotech Growth Trust (BIOG) was launched in 1997, aiming to generate long-term capital growth from a global portfolio of biotech stocks. Since...

Edison Investment Research

Industry fundamentals remain positive

The Biotech Growth Trust (BIOG) is a specialist vehicle, aiming to generate long-term capital growth via investment in global biotech stocks....

Edison Investment Research

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